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Bayelsa State Governor, Douye Diri, has signed the state’s ₦1.01 trillion 2026 Appropriation Bill into law, following its passage by the Bayelsa State House of Assembly. The signing was confirmed in a statement issued on Tuesday by the governor’s Chief Press Secretary, Daniel Alabrah. Governor Diri had originally presented a budget estimate of ₦991.371 billion…
As Christmas draws near, Lagos markets are beginning to glow with festive colours—but behind the tinsel and bright displays lies a more measured mood. Traders across major commercial hubs say this year’s yuletide season is unfolding with uneven momentum, shaped by rising costs, cautious consumer behaviour and shifting spending priorities. At the Balogun Business Association…
Rising anxiety over Nigeria’s ongoing tax reform reflects a deeper crisis within the country’s fiscal architecture rather than a fair reading of the policy recalibration. Beneath the public fear lies a system plagued by weak revenue mobilisation, loopholes that enable wealthy individuals and corporations to evade taxes, and a long-standing structure that fuels poverty and…
The World Bank in a report released on the 11th of January, 2022 estimated a 2.5 percent economic growth in Nigeria for the year 2022, 0.1 percent higher than the projection for 2021. The report was titled ‘Global Economic Prospects’; in the report, the World Bank stated that the elevated commodity prices are anticipated to…
The total amount of foreign exchange (FX) that streamed into the Nigerian economy skyrocketed by 64% to $30.18billion in the third quarter (Q3) of 2021 compared to the $18.4billion recorded in the previous quarter. This is about the data of the statistical bulletin for Q3 2021, from the Central Bank of Nigeria (CBN). The FX…
A recent report from the Nigeria Inter-Bank Settlement System (NIBSS) reveal that Nigerians transacted over N20 trillion instant payment transactions in May 2021. Transactions in May 2021 were 0.15% higher than in April 2021. Instant payment transactions in May 2021 also showed a spending recovery from the month of April. The volume of transactions increased…
The first half of President Buhari’s second term ended last week 29 May 2021. Government officials and economic analysts have been using various platforms to evaluate the country’s economic performance while proffering solutions on ways the economy can make better progress. It is remarkable to note that despite the threatening impact of COVID-19 and other…
Nigeria’s debt profile has become a rising cause for concern for many economic analysts with the growing year-on-year debt accumulation. The issue of rising public debt is one of Nigeria’s biggest economic problems. The Data Management Office (DMO) revealed that Nigeria’s total debt stock in 2019 amounted to N27.4 trillion. Within three months from April…
